Skip to main content

About this Show

The Journal Editorial Report

News/Business. Paul Gigot discusses news, politics, society and finance. New. (CC) (Stereo)

NETWORK

DURATION
00:30:00

RATING

SCANNED IN
San Francisco, CA, USA

SOURCE
Comcast Cable

TUNER
Port 50003

VIDEO CODEC
mpeg2video

AUDIO CODEC
mp2

PIXEL WIDTH
720

PIXEL HEIGHT
480

TOPIC FREQUENCY

Israel 12, Rick Perry 9, Romney 9, Perry 5, Obama 5, Pakistan 4, America 4, Dan Henninger 3, Mitt Romney 3, U.n. 3, New York 3, Jason 2, Dorothy Rabinowicz 2, John Huntsman 2, Jason Riley 2, Santorum 2, Paul Gigot 2, Chuck Schumer 2, China 2, Massachusetts 2,
Borrow a DVD
of this show
  FOX News    The Journal Editorial Report    News/Business. Paul Gigot discusses news,  
   politics, society and finance. New. (CC) (Stereo)  

    September 24, 2011
    11:00 - 11:30am PDT  

11:00am
hikes on the table and even some senate democrats are skeptical. so, will any of it pass? plus, rick perry, versus mitt romney, round three, did either deal a knockout at this week's g.o.p. debate. is obama losing the jewish vote? and is the approach at the u.n. an attempt to win it back? there's a debate ahead. welcome to the journal, editorial report. i'm paul gigot. first became president obama's 447 billion dollar jobs act. loaded with new spending and temporary tax cuts. and then, came his plan to pay for it. on monday, he proposed 1 1/2 trillion dollars in permanent tax hikes, including the so-called buffett rule to raise taxes on americans earning more than a million dollars a year. joining the panel this week, wall street journal columnist editorial, dan henninger,
11:01am
editorial board member, jason riley and assistant editor james freeman, so, james, we may be headed toward recession and may be in one. >> very slow growth. >> very slow growth. very slow jobs growth. the president wants to run presumably on the economic record, we have to. what's the strategy behind introducing this tax hike, about one and a half trillion dollars. how is that going to help? >> it's kind of mind-boggling and i think that's what investors around the world are looking at. we have a banking crisis in europe. we have the consumer in europe pulling back, the american consumer pulling back and asia's economy, india and china slowing down and his answer is increased taxes. it really, it defies political odds, i guess we're going to get to that, but on the economics, you don't see how this is a growth agenda and that's what we need. >> and i think because the tax cuts would only start in 2013, somehow that wouldn't affect
11:02am
the economy now. >> people would ignore the the future and assume they live for today and pay big tax bills later, but who is go to invest when they know the taxes are coming down the pipe. >> paul: milt freedman taught us that people invest on their expectations. >> permanent income. >> well, the mistake you two are making. >> only one of many. >> you're trying to have a conversation about economics and this is not academics, it's social policy. all right? this is a wealth tax, like the welt wealth tax socialists had 1901, solidarity tax on wealth. one of my favorite obama documents, february 2009, two months into the presidency, his economic statement to the president and everything that he's saying now is it in that original statement. millionaires and billionaires paying their fair share is in there and we know that in the campaign, obama said many times that he thought people in the upper bracket were absorbing too much of the nation's income and it was the middle class was suffering and
11:03am
this had been going for for ten years. his idea is to reprogram all of this wealth back down into what he describes as the middle class. it's a social policy. just as he spent a year fighting for his health care law, i think he's willing to spend political capital, to achieve the wealth taxes on the assumption, we'll get into the debate later, that looking at the array of republican candidates running against him, he could win next year. >> the election maybe 14 months away, but our president is in full campaign mode now and i don't think this has anything to do with economics. i think it has to do with politics. he's looking at the polls out there. >> paul: and who is he trying to appeal to. >> the base which believe in wealth distribution and vote getters. a couple of polls out there, one by cnn and one by gallup. 60% of independent voters think we should reduce the
11:04am
deficit by taxes and corporations. >> and those are the people that brought him over the top in '08 and bring them back. >> paul: independent voters say above all, they care about jobs and economic growth. >> and spending. >> paul: and if the economy isn't growing, i mean, an appeal to a wealth tax isn't going to make them feel any better about obama's economic management, is it? >> i don't think it is either and i don't think the strategy will work. i think the independent voters care more about spending than raising taxes on the wealthy. >> james, let's talk about the political reaction to this. in the president's own party. >> it's been weird, because i think if you're setting up for a political play. normally you would expect him to call, let's say harry reed and perhaps democrats to the white house. what are the five things he when you put into a package the democratic senate caucus could go for and republicans will not want to vote against, but we'll make them and put them in a tough spot in the election year. i guess this conversation never happened.
11:05am
people question how much democrats are-- >> different parts of the country, representing different constituency, louisiana, alaska, don't tax the oil industry. even john kerry in massachusetts saying i don't think is going to fly at least not in the current form. it's a political strategy and-- >> yeah, look at proposals on individual rates. his definition after millionaire is something, something below 200,000, 250,000, who is objecting, chuck schumer, saying cost of living in new york, higher than in mississippi and there should be a differential. sochlt people making that money are in fact democrats and do give money to the democratic party. in its design insults people. in an sur tax, people say i'm willing to pay my fair share. he's reducing their deductions
11:06am
and giving it to them in the neck and they're infuriated and that's what chuck schumer is hearing. >> paul: when we come back, the third debate in as many weeks and this time rick perry steps up, and chief rival, mitt romney. did it work. >> [ man ] behind every business is a "what if." what if we designed an electric motorcycle? what if we turned trash into surfboards? whatever your what if is, the new sprint biz 360 has custom solutions to make it happen, including mobile payment processing, instant hot spots, and powerful devices like the motorola photon 4g. so let's all keep asking the big what ifs. sprint business specialists can help you find the answers. sprint. america's favorite 4g network. trouble hearing on the phone? visit sprintrelay.com.
11:07am
canake it from australia to a u.s. lab to a patient in time for surgery may seem like a trumped-up hollywood premise. ♪ but if you take away the dramatic score... take away the dizzying 360-degree camera move, and take away the over-the-top stunt, you're still left with a pretty remarkable tale. but, okay, maybe keep the indulgent supermodel cameo... thank you. [ male announcer ] innovative medical solutions. fedex. solutions that matter.
11:08am
11:09am
>> nine g.o.p. presidential candidate took the stage thursday night at the fox news google debate in orlando, florida. it was their third debate in 16 days. and once again, the two frontrunners, texas governor rick perry and former massachusetts governor mitt romney scared off. >> i think americans just don't know sometimes which mitt romney they're dealing with. he's for obama care and now, he's against it. i mean, we will wait until tomorrow andsy which mitt romney we're talking to tonight.
11:10am
>> governor romney. >> i'll use the same term again, nice try, governor. i wrote a book two years ago and i laid out in that book with my views are, on a wide range of issues. i'm a conservative businessman, and spent my life in politics, i spent my life in business, i know how jobs come, how jobs go. my positions are laid out in that book, i stand by them. >> paul: we're back with dan henninger and jason riley editorial board, dorothy rabinowicz joins the panel. >> i don't think he's given a debate performance that justifies his front runner status in the race. that's for sure. he can't seem to land a valid punch on romney. i think that romney has become a better debater than four years ago, it's not entirely rick perry's fault. as we saw, he's struggling with the attack lines, not
11:11am
exactly rolling off the tongue there. it's frustrating because romney is vulnerable on some very serious issues and his defense of social security, i think, is subject to, could be subject to attack by perry, if perry could articulate a proper response and of course, romney care. why isn't rick perry pointing to obama administration officials who cite romney care as a template for obama care. >> paul: dorothy, we've seen him for an hour or more, is this the same rick perry that we've seen in the meetings? >> magically, you've touched on the exact point. the trouble with rick perry in public he's not the rick perry that we see in private. the rick perry we see with that aggie ring standing there, a military man, is one tough customer, the first impression you get is, not only does he look tough, he is tough. what happens when you put him in the public arena, he
11:12am
becomes an inhibited person, suppressing all of that arrogance because he he thinks that it wasn't necessary and this makes him constricted performance. >> paul: overhandled by the political advisors stuffing him with this or that. >> possibly. you can't conceal who you really are and here he is, being this nice guy, smiling over these assaults on him. whereas when you confront him at some, across some table, you don't want a fight with this guy. >> what about mitt romney? he certainly is practiced as jason says. >> he's very practiced. i was put off by his performance on the substance and opening remark, he was responding nominally to the question about our he had t.o. yal on jobs, at the end of it he said we have to crack down on china's trade practices. and his definition of the middle class, more or less come ports with barack obama's ands he's going to raise not
11:13am
tax cuts people making over $250,000. on issue after issue, it seems to me that mitt romney was just responding in a way for-- with the opinion polls. if he's done an opinion poll or focus group and you've got 60% of the people holding a position, that's where mitt romney is going to be. i felt that his answers screamed polling and it does make you wonder, in fact, what kind of a campaigner, what kind of leadership he's going to provide. >> here is the thing, the sense that is true, that i agree with, is apart from the fact that he does this with so much assurance now, so much improved assurance, and sense of authenticity, even falsely, that comparatively speaking-- >> he looks very presidential. >> yes. >> and seems to be flying through the general electorate, romney does, which
11:14am
frustrate perry. >> and kind it frustrating, 30 seconds to talk about pakistan, afghanistan and solving the nation's problems and one guy who probably knows more about this than everybody is newt gingrich and while i criticize perry for not doing his homework, how deep is he able to go in these foremats. >> what about huntsman, versus santorum? there was a hot exchange on foreign policy that john huntsman says let's bring our troops home, we've got to worry about the economy first. will it sell in republican ranks? >> it might sell. it's a question of how things are polling out there. for john huntsman to stand there and say he's served his country four times overseas in diplomatic posts and say we should let pakistan figure out its own problems after gingrich had rightfully said that iran's capability and
11:15am
pakistan could have a hundred nuclear devices and huntsman to say we should walk away from pakistan-- >> the biggest problem with that exchange, paul, it was between huntsman and santorum. either of whom is going to be the nominee. perry and romney were not brought into that discussion and that speaks to the debate format. you want to hear on the most likely candidate on the issues and two second tier candidates get to debate it. >> paul: we've got to go, dorothy, we apologize. we'll have plenty more to talk about the election. is president obama losing the jewish vote? some say this week's speech has to court that. and will they go republican or stick with the president despite his record on israel? . this is not only the master of all droids, it's the master of all machines. so powerful, anything you download on your computer is available on your droid bionic,
11:16am
instantly, wirelessly, at verizon 4g lte speed. never sync with a cord again. the droid bionic by motorola. control it and you control everything.
11:17am
and those people are what i like to call wrong. take metamucil. sure it helps you keep regular, but it doesn't stop there. metamucil is the only leading fiber supplement with psyllium, which gels to help remove waste and reduce cholesterol. it can multi-multitask. it's so 2012. look at it! it's doing over a million different things right now. metamucil. ask more of your fiber.
11:18am
11:19am
>> this is peace is hard work. peace will not come through statements and resolutions through the the united nations. if it were that easy it would be accomplished by now. and ultimately, it's the israelis and the palestinians who must live side by side. ultimately, it's the israelis and the palestinians not us, who must reach agreement on issues that divide them. >> that was president obama, speaking before the united nations general assembly this week and arguing against a u.n. vote on palestinian state hood. some say the speech was an attempt to court jewish voters ahead of a tough reelection bid in 2012, lost last week and supposedly safe house seat in a heavily jewish new york city congressional district raised questions about the level of support that obama has with the traditionally democratic group. we're back with dan henninger and dorothy rabinowicz.
11:20am
and fred steven joins the panel. has the president been anti-israel? >> yes, yes, he has. >> paul: how so? >> begin with the hostility towards benjamin netanyahu, who is the prime minister of israel. a number of meetings in which netanyahu was ushered out the back door, occasions when he was publicly berated by senior administration officials and a speech earlier this year, in which he created a formula in you which israel was expect today withdraw from territories about actually getting an end, the conflict with the palestinians and what you've seen in the last few days with the speech, at the u.n. is more of a reflection of a president sensing there's a political problem rather than reaching out in friendship. >> here is what the administration would say, we've cooperated militarily behind the scenes with israel more than any recent administration, cooperated on
11:21am
missile defense, we've shared intelligence and we've stopped in terrorists, and what's wrong with that argument? >> well, the level of cooperation, actually, is pretty much identical to almost every previous president. this is this line that basically, the order working from state to state relations between israel and obama represent something, something new. and frankly, they don't. one of the reasons why israel is getting more money is because the united states is selling a lot of armeds to saudi arabia and other gulf states. that accounts for-- the question is, the decisions by this president, to put daylight, public daylight between himself and the government in israel, in a way that would have been unthinkable, either under george w. bush, or bill clinton. >> and what about this speech? do you think it's going to reclaim for the president, support domestically for-- from the hawks in american foreign policy and particularly the american jewish voters? >> i don't. i think it's just going to be
11:22am
a revealing moment in which it shows how obsessed the administration is on the issue of the jewish vote. the effort, the all out effort, sending out people, issuing talking points not only how the president is fine with israel, but the best president that israel will had. this is such an extreme reversal, and yet, they're marching forward. the effort is very telling. >> paul: well, bb netanyahu came out off the speech and said it was fantaic thatmbers o were ecstatic. shouldn't they be, shouldn't american supporters of israel be pleased? >> well, netanyahu is a political leader and he says what he has to say and if he has to agree and be grateful that the americans were-- going to veto the palestinian effort. and this administration which created an atmosphere, as never before, that israel is
11:23am
essentially at fault. basically, obama speaks with voice, and new york times editorial page one line always reads, most of the problem is the middle east fault left on netanyahu's shoulder and that's-- >> what impact is that going to have, do you think, on the jewish vote in 2012. we hear every election cycle this time they're going to vote republican and they never have. >> and they've never had reason before. and the sentence of regret in the air, the people that it's going is palpable and i think that washington knows well that there's something to fear. >> there is, i'm sorry, to disagree. a lot of american jews don't like the president's policy on israel, but american jews are like any americans and vote across a wide spectrum of issues. while they have have misgiving on the israel subject maybe you won't get quite the level
11:24am
of support that he did in 2008. president obama is still going to get a majority of the jewish vote because jews are social, typically social liberals and they're going to look at a republican candidate whose vice-president they don't like and say, well, i almost voted republican ticket, but for this one thing. >> can they-- >> it's happened election cycle, after election cycle. >> can they vote for rick perry briefly. >> i think they could briefry and forever, he could. mr. perry came to new york last week and he did extremely well and walked away with a lot of money and was talking only to jews and they were not unusual jews. things change. >> paul: all right. we're going to be watching this one as we go forward. we have to take one more break. when we come back, our hits and misses of the week. is there a prize in there? oh, there's a prize, all right. [ male announcer ] inside every box of cheerios are those great-tting little o's made from carefully selected oats that can help lower cholester. is it a superhero? kinda.
11:25am
♪ my dis best absorbedlcium in small continuous amounts. kinda. only one calcium supplement does that in one daily dose. citracal slow release... continuously releases calcium plus d for the efficient absorption my body needs. citracal.
11:26am
11:27am
>> time now for hits and misses of the week. dorothy first for you.
11:28am
>> part of this is the singer tony bennett appeared on the howard stern show this week to announce, that, yes, america was responsible for 9/11, 9/11. following in the fashion of political mindsets, he went on to say who the terrorists, we bombed them. well, facing the usual outrage this produced and mr. bennett went on to say, well, i'm very sorry that you didn't understand this is an expression of move tore country. tony, hoo is the print. you have a pathological mindset you want to stand by your observation. >> paul: jason. >> this is for net flicks customers complaining that they've raise the rate for $25 a month rent movies by mail or stream all the movies you want over the internet. the bargain, but whining. >> paul: brad.
11:29am
>> america's first hostage crisis with iran lasted 444 days with the latest hostage crisis involving the hikers who strayed offer the border 783 days and ended this week with the release of two of the hikers, shane bauer and josh fatel. a moment to celebrate marred by one of the hikers saying he he called for the release of all imprisoned people in iran and america, good he's back in the country where he can say silly things without consequences. >> paul: we are glad to have him back. that's it for this week's he edition of the journal editorial report. thanks to my panel and to all of you for watching, i'm paul gigot. hope to see you right here next week. >> on fox news watch, a busy week for the media. president obama pushes another new tax plan.